The following Family Q&A Produced in partnership with Chris Bryden of 4 King’s Bench Walk provides comprehensive and up to date legal information covering:
It is common for a party in financial remedy proceedings to receive their income on a self-employed basis as a sole trader. This means that rather than a separate legal personality, such as a company being the income-generating vehicle, with personal income received by way of salary and dividends, the individual trades under a style or their own name and pays personal income tax on their profits. Business expenses are deducted in the usual way and accounts are normally prepared for this purpose. Some sole traders will simply use their personal bank account for income and expenses; others will use a dedicated business account.
In financial remedy proceedings the task of the court pursuant to section 25 of the Matrimonial Causes Act 1973 is to divide the assets between the parties in such a way as is fair in all of the circumstances having regard to the factors set out in that section. The starting point is equality of the division of assets subject to adjustments to reflect need, compensation and sharing, as set out in the case law culminating with the House of Lords decision in Miller v Miller
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An ad hoc arbitration is any arbitration in which the parties have not selected an institution to administer the arbitration. This offers parties flexibility as to the conduct of the arbitration, but less external support for the process. It can be quicker than institutional arbitration but not if
There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement
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